The Herc Holdings Inc. board of directors declared a quarterly dividend of $0.575 per share, payable to shareholders of record on February 23, 2022, with a payment date of March 10, 2022. The Company inaugurated its first quarterly dividend payment of $0.50 per share in the fourth quarter of 2021.
“We are pleased to start 2022 with a 15% increase in our quarterly dividend,” said Larry Silber, president and chief executive officer. “We are committed to delivering long-term sustainable value to shareholders with a balanced, disciplined and opportunistic approach to capital deployment. With our available liquidity, we plan to continue to invest in organic growth and M&A and will consider future dividend growth in line with our long-term business performance.”
At the new rate, the indicated dividend on an annual basis is $2.30 per share compared to the previous rate of $2.00 per share.
About Herc Holdings Inc.
Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with 312 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry specific solutions-based services, which includes power generation, climate control, remediation and restoration, pumps, trench shoring, studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 5,600 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2020 total revenues were approximately $1.8 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.